Iron ore price, page-18637

Article below suggests that heavy rains have affected shipments coming out of Brazil (northern system in the tropics). Shipments are well down YOY as chart in above post shows.

I’ve looked at the 14 day forecast at Ponta Madeira (northern port for S11D and other mines) and interesting to note that rains for a four day period in 1.5 weeks will be more than the monthly Jan average.... (see below screen shots) second screen shot suggests 65mm average for Jan at Ponta Madeira.

If rain has affected shipments in the past month, abnormally seasonal rain coming up may not abate shipping issues either.





https://do not advertise external s...y-spikes-for-SGX-65-Fe-iron-ore-contract.html


Traders have also attributed the price strength for high-grade fines to a 26% year-on-year drop in Brazilian iron ore exports last month.
A Singapore-based trader have cited heavy rainfall as the cause of the lower exports from Brazil.
Sources say these factors, coupled with restocking demand in China ahead of a week-long break for the Chinese New Year in late January, are keeping this segment of the iron ore market supported.